Indian Railways hits record ₹2.56 lakh crore revenue in FY24
What's the story
The Indian Railways has achieved a new financial milestone, generating its highest ever revenue of ₹2.56 lakh crore in the fiscal year 2023-24. This figure marks a significant increase from the previous year's revenue of ₹2.40 lakh crore. The announcement was made by the Minister of Railways, Ashwini Vaishnaw, in a recent post on X.
Freight increase
Freight loading sees uptick in FY24
In addition to the revenue milestone, the Indian Railways also experienced an increase in freight loading during FY24. According to Vaishnaw, the railways handled a total of 1,591 million tons (MTs) of freight in FY24. This figure shows a rise from the previous year's freight loading of 1,512 MTs. The past fiscal year has also seen considerable infrastructural advancements within the Indian Railways. A total of 5,300km of tracks were laid and 551 digital stations were established during FY24.
Budget allocation
Indian Railways to receive capex boost in FY24-25
Per the interim budget, the Indian Railways is set to receive a capital expenditure boost of ₹2.52 lakh crore for FY24-25. This allocation marks a 5% increase from the ₹2.4 lakh crore allocated in the preceding year. However, it is crucial to note that the railway ministry's internal and extra-budgetary resources (IEBR), which include funds from various financing sources, have seen a reduction. The IEBR has been cut down to ₹13,000 crore in 2024-25 from ₹52,783 crore in 2023-24.